Nigerian banks are racing to find new sources of capital after the country’s central bank ordered them to strengthen their balance sheets to protect themselves from the country’s worsening economic situation.
The Central Bank of Nigeria, which supervises the country’s 25 commercial banks, has given them until March 2026 to meet new capital requirements.
Those with international operations are expected to have at least N500bn ($314mn) in capital. For banks with operations around the…
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